A similar thing is happening now with private equity. The common case these days is to keep a company private for as long as possible, relying on private inves

A similar thing is happening now with private equity. The common case these days is to keep a company private for as long as possible, relying on private investment to grow huge. Only once you've maxed out rapid growth do you go public. Rather than going public being something you do to raise capital and keep growing, it's primarily something you do cash out and dump your shares on the plebs who are left holding the bag on a stalled out or even potentially a dying company. As in the off hour trading, insiders and rich people capture most of the gains. This is why actively trading to try to beat the market as a part time hustle is purely a suckers game. The game is entirely rigged against retail traders.